Untitled Document
Estate Planning
Estate Planning
Alonzi Law
Estate planning is the process of anticipating and arranging for the disposal of your assets upon your death. The goal of estate planning is to eliminate uncertainties over the administration of a probated estate (your total assets and liabilites at the time of death) and maximize the value of the estate by reducing taxes and other expenses.
This is usually accomplished through a representative of the estate who is designated in the will and affirmed by the probate court in the county where the decident lived. Guardians are often designated for minor children and beneficiaries in incapacity. This is accomplished through wills, trusts and various other beneficiary designations.
It is recommended that a person review their instruments (wills, trusts) every ten years or so. Assets change, people get married and divorced, persons listed in the will may have passed prior to the testator (“ person who made the will or trust” ). All of these events can have an effect on the validity and disposition of the will ortrust.
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